Virtualization Pioneer Neocleus Raises Over $11M in Series B Financing

Neocleus, a pioneer in endpoint virtualization, announced
that it has raised $11.4M in Series B funding. Neocleus’ solutions create a
more flexible, secure and efficient endpoint infrastructure. The round was led
by Battery Ventures and Gemini Israel Funds, the company’s original
investors.

CIO, CTO & Developer Resources

Neocleus applies virtualization to desktops and laptops
delivering the flexibility, manageability and security needed to address
different user scenarios within a dynamic, dispersed enterprise. The company’s
solutions, which include a Xen-based open source Type 1 bare-metal hypervisor
for endpoints, enable critical IT tasks to operate in isolated, trusted virtual
environments with complete access to the capabilities offered by the underlying
endpoint hardware. This approach provides IT departments with a more agile and
predictably secure virtual desktop environment and improves the overall cost of
ownership of the endpoint.

“Neocleus is reinventing the endpoint, something that CIOs
worldwide have been crying out for,” said Avi Domoshevizki, venture partner,
Battery Ventures. “Enterprises today are burdened with rising endpoint
support costs and an increasingly complex environment to secure and
manage. Current virtualization solutions are insufficient because they
either address only one issue or add complexity and cost. Neocleus’ novel
approach changes the game to deliver a more agile infrastructure and reduce
total cost of ownership of the endpoint. In addition, the company’s open
source contributions are a catalyst for a new ecosystem that will further
address the challenges facing IT departments. They have made tremendous
progress since our initial investment, and we’re happy to continue to fuel
their growth.”

Founded in 2006 by industry veterans Ariel Gorfung (CEO) and
Etay Bogner (CTO), Neocleus has been working vigorously on developing an
endpoint strategy and platform, building a team, rolling out its first solution
and attracting customers and partners. The company launched in May 2008 with
the announcement of the Desktop Hypervisor Framework, an endpoint hypervisor
enhancement to the Xen server hypervisor that the company will be contributing
to the open source community to foster an ecosystem of innovation. Most
recently Neocleus announced Trusted Edge, the first in a suite of virtual
software appliances that allows for secure access to corporate resources – for
employees, customers and partners – regardless of the endpoint’s location or
state of security.

“Endpoint challenges have grown exponentially as the number
of different user scenarios have increased and evolved, introducing new
complexities and new IT requirements. Today’s IT departments require
innovative, flexible solutions to address these emerging challenges and satisfy
the multitude of endpoint user scenarios,” said Mr. Adi Pundak-Mintz, General
Partner, Gemini Israel Funds.” Neocleus’ solutions address this
burgeoning market with a strong vision, technology innovation, solutions and a
proven management team. To date, the company has had extremely
positive customer response. We expect that the additional capital will
accelerate meeting these customer demands to deliver a groundbreaking solution
that fundamentally changes how IT departments manage and secure desktops and
laptops.”

”Battery Ventures and Gemini Israeli Funds have been
tremendous supporters of Neocleus. Their continued investment
demonstrates the commitment to the company vision and their belief that this is
an exceptional market opportunity,” said Ariel Gorfung, president, CEO and
co-founder, Neocleus. “We are extremely thankful for their continued
partnership and the confidence they have in our vision, our strategy and our
product expertise.”

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